Real Estate

“U.S. home prices climb for seventh month in a row to a record high, Case-Shiller says”

“…Home prices in the 20 major U.S. metro markets were up 3.9% in the past 12 months ending in September. The August report saw a 2.5% rise in home prices year-over-year. A broader measure of home prices, the national index,… Continue Reading…

Economy

“…Pentagon says it has no money for Middle East buildup”

“The Defense Department has ordered an additional aircraft carrier strike group, air defenses, fighter jets and hundreds of troops to the Middle East since the surprise terrorist attacks on Israel on Oct. 7, in an effort to prevent the conflict… Continue Reading…

Economy

“US Gasoline Prices Fall for 60 Straight Days…”

“…A gallon of gasoline now costs $3.25 on average in the US, more than 60 cents below the year’s peak in mid-September and about 30 cents cheaper than this time last year, according to data from the American Automobile Association.… Continue Reading…

Energy

“U.S. crude oil tumbles below $75 a barrel after OPEC delays meeting”

“U.S. crude prices fell more than 4% Wednesday after the Organization of Petroleum Exporting Countries delayed a pivotal meeting on production cuts that was scheduled for the weekend. The West Texas Intermediate contract for January dropped $3.27, or 4.2%, to $74.50 a barrel, while… Continue Reading…

Banking

“JPMorgan’s $290 million settlement with Epstein accusers wins approval by U.S. judge”

“A U.S. judge on Thursday approved JPMorgan Chase’s $290 million settlement with women who said Jeffrey Epstein abused them, and that the largest U.S. bank turned a blind eye to the late financier’s sex trafficking. U.S. District Judge Jed Rakoff granted final… Continue Reading…

Business

“Toyota more than doubles investment and job creation at North Carolina battery plant”

“Toyota will invest an additional $8 billion in the hybrid and electric vehicle battery factory it’s constructing in North Carolina, more than doubling its prior investments and expected number of new jobs, the company announced Tuesday. The Japanese automotive manufacturer… Continue Reading…

Economy

“U.S. GDP grew at a 4.9% annual pace in the third quarter, better than expected”

“…Gross domestic product, a measure of all goods and services produced in the U.S., rose at a 4.9% annualized pace in the July-through-September period, up from an unrevised 2.1% pace in the second quarter, the Commerce Department reported Thursday.. Economists surveyed by… Continue Reading…

Real Estate

“…Now the 8% mortgage rate is back”

“…Now the popular 30-year fixed mortgage rate is at 8%, the highest in decades, making things even tougher. Mortgage demand is at its lowest point in nearly 30 years… Would-be sellers, meanwhile, are trapped. They have little desire to trade the 3% rate… Continue Reading…

Economy

“Retail sales rose 0.7% in September, much stronger than estimate”

“…Excluding autos, sales were up 0.6%, also well ahead of the forecast for just 0.2%. The so-called control group, which strips out items such as auto dealers, gas stations, office supply stores, mobile homes and tobacco stores and is used… Continue Reading…

Economy

“The U.S. government’s interest bill is skyrocketing”

“… Why it matters: An upward shift in long-term interest rates is putting the government on track to spend much more on interest payments in the coming years than was anticipated just a few months ago. …” https://www.axios.com/2023/10/16/interest-rates-federal-debt Long story short… Continue Reading…